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Tulsa vs Norman for Rental Property Investing

Side-by-side comparison of Tulsa, OK and Norman, OK — cap rates, rent, prices, and investment metrics.

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Norman wins 4–3 across key metrics
Tulsa leads on cash flow (4.64% vs 4.39% cap rate) · Norman leads on population growth
Metric
Tulsa, OK
Norman, OK
Est. Cap Rate
4.64%
4.39%
Median Home Price
$195,000
$225,000
Median Monthly Rent
$1,100
$1,200
1% Rule
0.56%
0.53%
GRM
14.8x
15.6x
Price / Income
3.9x
4.3x
Property Tax Rate
0.9%
0.86%
Vacancy Rate
6.3%
5.5%
Population Growth
0.6% / yr
1% / yr
Annual Appreciation
2.3%
2.5%
Population
413,066
130,000
Median Income
$50,200
$52,400

Tulsa vs Norman: Which Is Better for Investors?

Cash flow: Tulsa has the edge with an estimated cap rate of 4.64% compared to Norman's 4.39%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $195,000 in Tulsa vs $225,000 in Norman, while rents come in at $1,100/mo and $1,200/mo respectively.

Growth & appreciation: Norman is growing faster at 1% annually vs Tulsa's 0.6%. Norman leads on home value appreciation at 2.5% per year.

Costs & risk: Property taxes are 0.9% in Tulsa vs 0.86% in Norman. Vacancy rates of 6.3% and 5.5% are mixed — Norman has the tighter rental market.

Bottom line: Norman edges out Tulsa on most key metrics. While cap rates are moderate at 4.39%, Norman's overall profile is stronger. Use our free calculators to model specific deals in Tulsa or Norman.

Tulsa, OK
4.64% cap rate · $195,000 median · $1,100/mo
Full analysis →
Norman, OK
4.39% cap rate · $225,000 median · $1,200/mo
Full analysis →
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